DFND vs. USMV ETF Comparison

Comparison of Realty Shares DIVCON Dividend Defender ETF (DFND) to iShares MSCI USA Minimum Volatility ETF (USMV)

DFND

Realty Shares DIVCON Dividend Defender ETF

DFND Description

The investment seeks long-term capital appreciation by tracking the performance, before fees and expenses, of the Reality Shares DIVCON Dividend Defender Index. The index is designed to select the companies for a long position that have the highest probability of increasing their dividend in a 12-month period and select the companies for a short position that have the highest probability of decreasing their dividend in a 12-month period. Under normal circumstances, at least 80% of the fund's assets (other than collateral held from securities lending, if any) will be invested in component securities of the benchmark index. It is non-diversified.

Grade (RS Rating)

Last Trade

$42.88

Average Daily Volume

851

Number of Holdings ^*

* may have additional holdings in another (foreign) market

USMV

iShares MSCI USA Minimum Volatility ETF

USMV Description

The investment seeks the investment results of an index composed of U.S. equities that, in the aggregate, have lower volatility characteristics relative to the broader U.S. equity market. The fund generally invests at least 90% of its assets in securities of the underlying index or in depositary receipts representing securities in the underlying index. The underlying index follows a rules-based methodology to determine weights for securities in the index that seeks to minimize total risk of the MSCI USA Index. Components primarily include consumer staples, healthcare and information technology companies. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$93.46

Average Daily Volume

1,630,912

Number of Holdings ^*

170

* may have additional holdings in another (foreign) market

Performance

Period	DFND	USMV
30 Days	-1.19%	1.70%
60 Days	2.16%	2.42%
90 Days	12.82%	4.02%
12 Months	12.95%	25.63%

26 Overlapping Holdings

Symbol	Grade	Weight in DFND	Weight in USMV	Overlap
AAPL	C	0.95%	0.99%	0.95%
ACN	C	0.34%	1.29%	0.34%
ADI	D	1.37%	0.23%	0.23%
AON	A	1.52%	0.53%	0.53%
AVGO	D	0.86%	1.19%	0.86%
BR	A	0.75%	0.05%	0.05%
CB	C	1.39%	1.47%	1.39%
CBOE	B	1.26%	0.85%	0.85%
CMCSA	B	1.15%	0.39%	0.39%
CME	A	1.24%	0.53%	0.53%
CSCO	B	1.5%	1.47%	1.47%
D	C	-2.96%	0.23%	-2.96%
HON	B	1.45%	0.25%	0.25%
HSY	F	1.36%	0.3%	0.3%
LIN	D	1.2%	0.16%	0.16%
LMT	D	2.05%	0.82%	0.82%
MA	C	1.75%	0.7%	0.7%
MCD	D	2.2%	1.25%	1.25%
MMC	B	1.21%	1.11%	1.11%
MPC	D	2.11%	0.54%	0.54%
MSFT	F	1.0%	1.34%	1.0%
MSI	B	1.86%	1.81%	1.81%
PG	A	2.27%	1.23%	1.23%
T	A	-2.19%	0.74%	-2.19%
V	A	2.68%	0.9%	0.9%
VRSK	A	2.44%	0.42%	0.42%

DFND Overweight 44 Positions Relative to USMV

Symbol	Grade	Weight
SNA	A	2.66%
CTAS	B	2.6%
KLAC	D	2.42%
GWW	B	2.25%
SHW	A	2.25%
FDS	B	2.22%
NDSN	B	2.22%
BRO	B	2.13%
CMI	A	2.09%
PHM	D	2.0%
MCO	B	1.85%
PPG	F	1.77%
ETN	A	1.74%
ITW	B	1.71%
ROK	B	1.65%
AMAT	F	1.59%
ALLE	D	1.51%
DHI	D	1.47%
J	F	1.42%
MSCI	C	1.33%
MPWR	F	1.31%
HUBB	B	1.27%
COST	B	1.2%
FAST	B	1.13%
LW	C	1.13%
AOS	F	1.09%
ALB	C	1.01%
GL	B	0.93%
ODFL	B	0.88%
MLM	B	0.8%
INTU	C	0.78%
MCHP	D	0.08%
PARA	C	-0.33%
APA	D	-0.82%
INTC	D	-1.08%
VFC	C	-1.1%
DVN	F	-1.12%
FCX	D	-1.86%
NWS	B	-1.96%
LUV	C	-2.05%
SW	A	-2.15%
IP	B	-2.32%
F	C	-2.41%
CNP	B	-2.56%

DFND Underweight 144 Positions Relative to USMV

Symbol	Grade	Weight
TMUS	B	-1.95%
WMT	A	-1.78%
PGR	A	-1.67%
IBM	C	-1.66%
WCN	A	-1.56%
RSG	A	-1.55%
BRK.A	B	-1.55%
DUK	C	-1.49%
APH	A	-1.44%
WM	A	-1.44%
NOC	D	-1.43%
TXN	C	-1.39%
VZ	C	-1.35%
SO	D	-1.35%
MCK	B	-1.35%
UNH	C	-1.34%
ORCL	B	-1.31%
ROP	B	-1.3%
AJG	B	-1.27%
LLY	F	-1.25%
JNJ	D	-1.18%
TRV	B	-1.15%
ED	D	-1.13%
ABBV	D	-1.04%
MRK	F	-1.01%
PEP	F	-1.01%
GDDY	A	-1.0%
AZO	C	-0.98%
GILD	C	-0.94%
EA	A	-0.89%
FCNCA	A	-0.88%
K	A	-0.8%
WEC	A	-0.78%
CTSH	B	-0.76%
NOW	A	-0.75%
TSN	B	-0.71%
VRTX	F	-0.69%
FI	A	-0.69%
ORLY	B	-0.68%
ACGL	D	-0.68%
COR	B	-0.67%
NVDA	C	-0.67%
GIS	D	-0.66%
VRSN	F	-0.64%
KR	B	-0.61%
AMGN	D	-0.59%
FICO	B	-0.59%
REGN	F	-0.59%
KDP	D	-0.59%
TDY	B	-0.57%
BDX	F	-0.56%
KEYS	A	-0.55%
FANG	D	-0.55%
FFIV	B	-0.55%
INCY	C	-0.53%
PTC	A	-0.52%
ELV	F	-0.52%
YUM	B	-0.5%
BMY	B	-0.49%
XEL	A	-0.46%
NEM	D	-0.46%
UBER	D	-0.45%
JNPR	F	-0.45%
TJX	A	-0.45%
XOM	B	-0.45%
MDLZ	F	-0.44%
WDAY	B	-0.43%
EG	C	-0.43%
ERIE	D	-0.42%
CL	D	-0.41%
CHD	B	-0.4%
HUM	C	-0.4%
BAH	F	-0.39%
AEP	D	-0.39%
AKAM	D	-0.39%
KHC	F	-0.38%
WTW	B	-0.38%
CTVA	C	-0.38%
ROL	B	-0.36%
IT	C	-0.35%
AFG	A	-0.35%
GEN	B	-0.35%
CDW	F	-0.35%
CVX	A	-0.34%
MKL	A	-0.34%
GRMN	B	-0.33%
CPB	D	-0.33%
AIZ	A	-0.32%
NBIX	C	-0.32%
WMB	A	-0.31%
WRB	A	-0.31%
GLW	B	-0.31%
FWONK	B	-0.31%
HD	A	-0.3%
ANET	C	-0.29%
ICE	C	-0.28%
L	A	-0.28%
AEE	A	-0.24%
HUBS	A	-0.24%
AZPN	A	-0.23%
ALNY	D	-0.22%
NTAP	C	-0.22%
BMRN	D	-0.22%
HRL	D	-0.21%
CI	F	-0.21%
KMB	D	-0.21%
TW	A	-0.2%
DTE	C	-0.2%
PKG	A	-0.2%
PFE	D	-0.2%
DPZ	C	-0.19%
CRWD	B	-0.19%
CMS	C	-0.19%
CDNS	B	-0.18%
MELI	D	-0.18%
MOH	F	-0.18%
SNPS	B	-0.18%
EOG	A	-0.17%
HOLX	D	-0.16%
STX	D	-0.16%
GOOG	C	-0.16%
UTHR	C	-0.14%
AMZN	C	-0.14%
MDT	D	-0.13%
DELL	C	-0.12%
HIG	B	-0.12%
OXY	D	-0.12%
DGX	A	-0.11%
KO	D	-0.1%
LNT	A	-0.1%
RTX	C	-0.09%
ADP	B	-0.09%
ABT	B	-0.09%
OTIS	C	-0.07%
TEL	B	-0.07%
ATO	A	-0.06%
PSX	C	-0.06%
FSLR	F	-0.06%
KNX	B	-0.06%
VLO	C	-0.05%
CRM	B	-0.05%
GD	F	-0.05%
ULTA	F	-0.04%
CVS	D	-0.04%